GEORGE TOWN: Great Eastern Life Assurance (M) Bhd is optimistic of positive growth despite projected economic setback due to rising inflation.
Great Eastern, which holds 22.5% market share of the life insurance industry in the country, is confident of achieving its targeted total new business premiums of RM1bil this year.
Chief executive officer Koh Yaw Hui said the company would focus on its financial consultancy services to promote growth.
“People need to work out strategies to manage their finances to prepare for education, healthcare and future needs,” he said.
The opening ceremony of Great Eastern Life’s new premises in George Town
The company had already achieved the target set for the first-half year, he said after Great Eastern Holdings Ltd chairman Fang Ai Lian opened the company’s new premises here yesterday.
The subsidiary of Singapore-based Great Eastern Holdings spent RM10mil to purchase land and RM36mil to construct the L-shaped five-storey building. Another RM3mil was spent on interior fitting.
“The new business premiums from Penang last year amounted to more than RM67mil. We hope to achieve RM84mil in new business premiums in Penang this year,” he said.
Great Eastern had 24 branches and 17,000 agents nationwide.
“We have 1.9 million policyholders and 2.7 million policies,” he said.
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